3Power Energy Group Inc (PSPW)

[davied25]

Couple pertinent items stood out while combing through the blank Shala concession bid (found here and requires translation: https://tinyurl.com/ybgmfejq

What it shows is that 3Power HAS ALREADY invested AT LEAST $15 million dollars into the Shala project just to sign the contract. Then add in whatever they paid GR Albania and others for the feasibility & engineering studies. So, if you're one that thinks the project is dead, ask yourself whether you would put up $15 mil for a busted project.

Specifics from the bid: 

- Upon notification of winning the bid in Aug 2017, they had to submit a non-refundable security deposit of 2% of the investment value (~$2.5 million on €110 million).

- Upon the signing of the contract (as it was on 4/4/18), they had to submit a contract security deposit of 10% of the project investment value (~$12.6 million on €110 million). 

- They had to submit financial documents and bank statements to prove they have the economic viability to complete the project. This included several financial ratios tied to the project investment value, as well as bank documents showing at least 7% of investment value available in cash. Makes sense why Falak Properties is one of the 3 shareholders that comprises 3Power Shala Shpk - he's the one with all the capital and leverage. 

- They had to document how the project is financed, including % of capital from the company itself and % from external sources, including any loan terms.

- They could also list anything from the bid that was to remain confidential from the public with an explanation of why.